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June 10 London Copper Afternoon Review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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On Friday
, the overall performance of London copper fell back to a higher level.
During the morning Asian session, London copper opened at 5850 US dollars / ton, and then began to perform continuously after a slight test of 5867.
5 US dollars / ton, although the period due to the straight decline of the US dollar stimulated Lun copper rapid short-term rebound, but affected by the short market, the overall downward trend of copper prices did not change, the evening US market session tested 5740 yuan / ton, but the center of gravity at the end of the session hovered at the 5800 US dollars / ton mark, closing at 5792.
5 US dollars / ton, down 0.
8% during the day, with a volume of 15646 lots, Holdings increased by 1,197 lots to 305,000
.

London copper

Last Friday, the domestic market
was closed due to the Dragon Boat Festival.
Gold performed higher on Friday due to the record low of the US non-farm payrolls data, the market's preference for the US dollar weakened, gold performance increased, despite this, copper prices are still dragged down by the slowdown in the global economy and weak copper consumption, market confidence is low, bears take advantage of the high entry, it is worth paying attention to the $5800 / ton mark near more stop loss
.

Today, we are concerned about the upcoming trade import and export data and social finance data released by China, and the expected performance is not optimistic
.
And due to the gradual weakening of consumption in the domestic market and sufficient supply, it is difficult to provide support for prices
.
Due to the impact of risk aversion in the spot market, premiums are expected to remain high, and market transactions will be suppressed
.
It is expected that today's London copper 5780-5830 US dollars / ton, Shanghai copper 46000-46500 yuan / ton, spot premium 120-liter 180 yuan / ton
.

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